Deutsche Bank prepares to oust chief executive John Cryan

John Cryan is to be replaced as chief executive of Deutsche Bank less than two years into his tenureMichael Gottschalk/Getty Images

Deutsche Bank has begun a search to oust its British boss amid an escalating boardroom row over the lender’s future and alarm at its performance.

The German investment bank has approached one of Goldman Sachs’ most senior executives to replace John Cryan as chief executive less than two years into his tenure.

Richard Gnodde, vice-chairman of Goldman Sachs and the Wall Street bank’s most senior executive outside the United States, was sounded out amid a breakdown in the relationship between Mr Cryan and Paul Achleitner, the bank’s chairman.

Mr Gnodde is thought to have turned down the offer. Others said to have been considered are Jean Pierre Mustier, chief executive of Unicredit, the Italian financial group, and Bill Winters, chief executive of Standard Chartered.

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